Mobile Home Park and Self Storage

[John Verduzco]

Hi All - New to BP.  

My partners and I are willing to play a role in Multi-Family deals in AZ, NC, SC and FL.  We currently hold a single family rental, Mobile Home Park (MHP), Self Storage portfolio.  We are partial to MHP's in decent size MSA's (100K+).  Could do multiple deals of $1M to $5M in next 6 months.

Two partners located in Naples, FL the other two in Phoenix, AZ.  In Florida we like Naples, Fort Myers, Sarasota, Orlando, Jacksonville, Tampa, Tallahasee, Pensacola, etc.  In Arizona we like Phoenix, Mesa, Tucson.  Too many to list in the Carolinas.

Thanks,

John

[John Verduzco]

Hi Shital Thakkar - we feel that there are appropriate assets for all types of geography, ROI goals, risk goals and times in the market cycle. For example Multifamily (or MHP's) may be in Recovery in Reno and Hypersupply in Charlotte while Self Storage may be in Recession in Philly but expansion in Nashville. Point is, it just depends. For B&H (5+ years), we lean toward affordable housing versus SS as it gives a better risk profile in the underlying demand advantage. MHP's also have a very high barrier to entry (not building more of them) vs SS. Unlike CRE, SF values don't track closely with interest rates, but with population growth and housing supply so we think there is a more clear and distinct time to buy, time to sell and the hold in between. Check out Integra Realty Resources Viewpoint reports for market cycles. Good luck.